Guideline Value for MUTHU GRAMANI STREET

Muthu Gramani Street guideline value

The current guideline value of Muthu Gramani Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Muthu Gramani Street has changed

The guideline value for Muthu Gramani Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017, before rising again to Rs 6,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 6,500 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The value saw a drastic change from 2007 to 2012 with a decrease of 33%, but it rebounded significantly from 2012 to 2017 with an increase of 233%. Overall, from 2007 to 2024, the guideline value has risen by 261%. The register does not have figures for Muthu Gramani Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Muthu Gramani Street's 2024 figure above that median.

• Muthiyalu Naicken Street: Rs 6,500 per sq.ft (2024)
• Muthiyalu Chetty Street: Rs 6,500 per sq.ft (2024)
• Muthu Mudali Street: Rs 6,500 per sq.ft (2024)
• Muthu Naicken Street: Rs 6,500 per sq.ft (2024)
• Murugesa Mudali Street: Rs 6,500 per sq.ft (2024)
• Naina Mohhamed Rowther Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000. Together, the total cost for stamp duty and registration would be Rs 5,85,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Gramani Street?

The Sub Registrar Office that covers Muthu Gramani Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It serves as a reference point for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. The stamp duty is calculated based on the higher value between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthu Gramani Street?

The current guideline value of Muthu Gramani Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Muthu Gramani Street's 2024 value being above this median.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 65,00,000, the stamp duty would be Rs 4,55,000 and the registration fee would be Rs 1,30,000, totaling Rs 5,85,000.

Where is the Sub Registrar Office for Muthu Gramani Street located?

The Sub Registrar Office for Muthu Gramani Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.